How to “Open a Buy trade when the Ask price is N points below the ‘Lowest Low’ in the last M bars”

Question:

How do I Open a Buy trade when the Ask price is N points below the ‘Lowest Low’ in the last M bars”?

Answer:

6 easy steps

1. When you first create your VTS system, check the box to create a OpenBuyTrade drawing:

2. On the OpenBuyTrade drawing, drag, drop and connect the fnGetLowest function and a new variable named MyLow

(fnGetLowest  is found in the Functions Toolbox under the Bar menu)

3.  Configure the fnGetLowest function, set the endbar parameter to your M value: (M=12)

4. Configure the MyLowest variable to hold the lowest value minus N points: (N=25)

5. Add the logical condition to IsOpenBuyTrue:

6. Build and Test!

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